Staking Plans

An effective betting strategy really has two components. First one involves finding an accurate way of predicting outcomes with the help of value betting principles. You cannot hope to succeed in fixed odds betting until you have an edge over the bookie. Once you have decoded this secret, the second step is to devise a betting strategy so as to maximize earnings.

The thing to remember is that you cannot attain your goals by simply increasing the odds or the bet size. This is certainly not a safe way to ensure higher returns. You carry the risk of exposing yourself to bankruptcy. Risk management says that a punter should indentify and reduce risks from his betting strategy. For this, he needs to learn principles of both money management as well as betting strategy.
Money management is a vast subject having different meanings for different people. But in general, it contains some common principles that are as follows
• He should have a clear idea of the bankroll set aside for betting that he can easily afford
• He needs to find out a betting strategy that works for him
• He needs to find a way to maximize his profits
• He needs to mitigate risk of bankruptcy

Some of the most popular betting strategies are Steady Drip, Rolling Bank, Kelly, Oscar Grind, D’Alembert, and Martingale. All these strategies try to improve the profits of the punter but they also increase his risk of bankruptcy.
Betting strategies can be broadly classified into 4 categories that are fixed, variable, percentage, and progressive. The size of the bet is same in case of fixed staking irrespective of the odds. Also called level skating, it is a very common strategy that is used as a benchmark for other strategies. Some gamblers who do not like fixed staking change the size of their bets based upon odds and their hunch feelings. Still others try to ensure same profits with successful bets. It then becomes a fixed profits betting strategy.

In the case of percentage betting also, it is the size of the bets that is standardized. But it is done as a percentage of the betting bank at present rather than the initial capital set aside for betting. Kelly Skating is a derivation of percentage skating that decides the size of the bet on the basis of edge that the punter believes he has over the bookie and the odds. As such, it can be considered as a hybrid between fixed and percentage staking.
Progressive staking, as the name implies, sees the size of the bet being increased or decreased based upon whether the punter has lost or won the previous bet. Pyramid and Martingale are two best examples of progressive staking.
Many punters, especially those who are inexperienced, have this belief that they can change their fortunes and start winning if they make use of progressive staking. However, this erroneous misconception results from a lack of understanding of the math behind this staking strategy.
The main problem that a punter faces when trying to choose a staking strategy is the absence of data or results to base his calculations upon. For example, risk exposure cannot be estimated solely on the basis of past results. This is because your past performance represents just a miniscule part of all the permutations and combinations that are possible in a given betting scenario.
If a punter has an impressive winning record in the past it does not mitigate chances of loss through the selection of a particular staking strategy. Also, a loss making streak in the past does not indicate any inherent weaknesses in a particular betting strategy. But the punter does not believe this and wishes to give up his betting strategy. If you are facing a dilemma on this count, the best thing for you is to carry out your staking strategy’s statistical analysis with the help of a suitable computer model.
The ability to take risk and the attitude to go for a kill decide which of the dozens of staking strategies would work best in the case of a punter. A seasoned gambler knows the risks that are inherent in fixed odds betting and he chooses a betting strategy that suits his requirements.